Market Update 5.08.18 – Hackers Impact Hundreds of Web sites
Market News
Hackers Impact Hundreds of Web sites
Hundreds of websites that run the Drupal content management system have been injected with malicious software by hackers. This software, is a crypto-jacking software that is used to mine the cryptocurrency Monero.
The security researcher for the website Bad Packets Report, Troy Mursch was the one who discovered this hack attack. He stated that more than 300 websites were injected with the crypto-jacking software called Coinhive to mine Monero tokens. The hackers were able to do this by taking advantage of a weakness in the outdated version of Drupal’s CMS.
Find out more here.
Japan’s FSA Lays Out More Regulations for Crypto Exchanges
The Japanese Financial Services Agency (FSA) has laid out a further set of regulations for domestic cryptocurrency exchanges. The regulatory authority is trying to prevent another occurrence of the January crypto-heist, the biggest in history, where more than $532 million worth of cryptocurrencies were stolen from local cryptocurrency exchange, Coincheck.
An FSA source stated that it has been challenging for the agency to identify potential risks in advance. However, the new framework of regulations focuses on re-hauling the exchanges’ internal management systems as well as increasing investor protection.
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Novogratz Defends BTC as Original Crypto
In an ongoing war or words between BTC and BCH, proponents of Bitcoin Cash had recently announced on Twitter that their crypto – BCH – is the original Bitcoin, the oldest cryptocurrency, because Bitcoin core (BTC) is actually an experimental cryptocurrency that has no white paper.
Ex Wall Street and current Crypto executive, Michael Novogratz defended the world’s most valuable cryptocurrency as the true holder of the Bitcoin brand. He responded with a tweet of his own, stating that Bitcoin was a store of value like that of gold and that its market capitalization dwarfed BCH’s.
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Total Market Cap: May 08
The cryptocurrency market’s trading volume is currently at $24.96 billion. The market’s cap is currently at $447.05 billion.
Bitcoin Price Analysis: May 08
Bitcoin’s price was up by 0.7% to trade at $9437.56 in the last 24 hours. The crypto’s trade volume is now $7.07 billion and its market capitalization is $160.62 billion.
Ethereum Price Analysis: May 08
Ethereum’s price went up by 0.89% to trade at $769.10 per token in the last one day. The altcoin’s trading volume is now $4.25 billion and its market value is at $76.42 billion.
State of the Top 10 Cryptocurrencies: May 08
While Bitcoin struggles to break past the $10K barrier, the overall cryptocurrency market has been doing well in the last 24 hours. All the top ten cryptocurrencies saw a price increase in the last one day. However, these increases have been mostly minor, with the start performers being EOS (7.91% increase), IOTA (5.99% increase) and TRON (5.18% increase).
- Bitcoin experienced a price increase of 0.7% to $9437.56 and its market cap went up to $160.62 billion.
- Ethereum experienced a price increase of 0.89% to $769.10 and its market cap went up to $76.42 billion.
- Ripple experienced a price increase of 1.58% to $0.838918 and its market cap went up to $32.86 billion.
- Bitcoin Cash experienced a price increase of 1.51% to $1674.13 and its market cap went up to $28.52 billion.
- EOS experienced a price increase of 7.91% to $18.41 and its market cap went up to $15.46 billion.
- Litecoin experienced a price increase of 1.28% to $167.24 and its market cap went up to $9.41 billion.
- Cardano experienced a price increase of 3.72% to $0.343164 and its market cap went up to $8.84 billion.
- Stellar experienced a price increase of 3.59% to $0.410168 and its market cap went up to $7.61 billion.
- IOTA experienced a price increase of 5.99% to $2.30 and its market cap went up to $6.35 billion.
- TRON experienced a price increase of 5.18% to $0.085199 and its market cap went up to $5.57 billion.